Explain the importance of the attestation function.

Module 2 – Home

Income Statement

Modular Learning Outcomes

Upon successful completion of this module, the student will be able to satisfy the following outcomes:

•Case ◦The student should be able to apply income statement related concepts.

•SLP ◦The student should be able to prepare a simple income statement.

•Discussion ◦The student should be able to explain the importance of the attestation function.

Module Overview

You were introduced to financial statements and their purpose in the first module. This module examines the income statement in more detail. The income statement measures the financial success of the company for a specific period. This statement is also referred to as a statement of profit and loss.